Mortgage on a $250K house in Massachusetts
$1,681 a month with 20% down — $1,345 principal and interest plus $211 property tax and $125 insurance.
Massachusetts's typical property tax is 1.01% of the home's value a year (U.S. average 0.9%), which adds $211 a month on a $250K home. The typical home in Massachusetts is worth $655,219, so $250K is 62% below the typical price.
$250K home in Massachusetts: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $50,000 | $200,000 | $1,345 | $0 | $336 | $1,681 | $72,100 |
| 10% down | $25,000 | $225,000 | $1,514 | $94 | $336 | $1,943 | $83,300 |
| 5% down | $12,500 | $237,500 | $1,598 | $99 | $336 | $2,032 | $87,100 |
| 3.5% down (FHA) | $8,750 | $245,472 | $1,651 | $111 | $336 | $2,098 | $89,900 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.01% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Massachusetts does $250K buy a typical home?
No Massachusetts county has a typical home value within 15% of $250K.
0 of 14 Massachusetts counties tracked by Zillow have a typical home value at or below $250K. See all Massachusetts home prices.
Other prices in Massachusetts
Frequently asked questions
What is the mortgage on a $250K house in Massachusetts?
About $1,681 a month with 20% down at 7.11%: $1,345 principal and interest, $211 property tax and $125 insurance.
How much do I need to make to buy a $250K house in Massachusetts?
About $72,100 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $250K house in Massachusetts?
At Massachusetts's typical effective rate of 1.01%, about $2,530 a year. Rates vary by county and city — see the county pages.